Warner Music Group Wins Big at National Association of Recording Merchandisers (NARM) Convention

NEW YORK, NY -- (MARKET WIRE) -- May 3, 2007 -- Warner Music Group Corp. (NYSE: WMG) companies
were recognized for outstanding industry achievement in 2006 at the
National Association of Recording Merchandisers' (NARM) annual awards
ceremony last night which are voted on by music retailers, suppliers,
distributors and wholesalers.

For the second year in a row, WEA Corp., WMG's U.S. sales and distribution
company, was named "Large Distributor of the Year," Alternative
Distribution Alliance (ADA), WMG's independent distribution company, earned
its first-ever "Medium Distributor of the Year" award, and Rhino
Entertainment was awarded "Large Entertainment Software Supplier of The
Year" for the third year in a row.

"We are thrilled that the retail community continues to recognize the
Warner Music Group companies for their excellent work and leadership in
this area," said Lyor Cohen, Warner Music Group's Chairman and CEO, U.S.
Recorded Music. "Retail is undergoing significant changes, so it is
particularly rewarding to see John Esposito, Andy Allen, Scott Pascucci and
their teams honored for their innovation and leadership during this time of
transition in the industry."

In 2006, WMG gained album unit share in the U.S. in four out of the top
five industry genres (Top Sellers, R&B, Alternative and Hard Music) based
on numerous successful releases including those from James Blunt, Red Hot
Chili Peppers, Josh Groban, Gnarls Barkley and My Chemical Romance.

WMG also had three of the top five best-selling digital tracks in the U.S.
last year, including the top two, Daniel Powter's "Bad Day" and Gnarls
Barkley's "Crazy" as well as No. 4, Sean Paul's "Temperature." Daniel
Powter's "Bad Day" was the first digital single to be certified double
platinum in the U.S., having sold two million copies.

ADA was the market share leader in 2006 among independent distributors in
both digital and traditional distribution, according to SoundScan.

NARM is the non-profit trade association that serves the music retailing
community in networking, advocacy, information, education and promotion.
NARM's membership includes music and other entertainment retailers,
wholesalers, distributors, record labels, multimedia suppliers, and
suppliers of related products and services, as well as individual
professionals and educators in the music business field. NARM's retail
members operate 7,000 storefronts that account for almost 85 percent of the
music sold in the $12 billion U.S. music market.

About Warner Music Group

Warner Music Group became the only stand-alone music company to be publicly
traded in the United States in May 2005. With its broad roster of new stars
and legendary artists, Warner Music Group is home to a collection of the
best-known record labels in the music industry including Asylum, Atlantic,
Bad Boy, Cordless, East West, Elektra, Lava, Maverick, Nonesuch, Reprise,
Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music
International, a leading company in national and international repertoire,
operates through numerous international affiliates and licensees in more
than 50 countries. Warner Music Group also includes Warner/Chappell Music,
one of the world's leading music publishers, with a catalog of more than
one million copyrights worldwide.